Statistically, it’s no secret that the Social Security benefits paid to women average about 25% below those paid to men, and that women represent about 56% of the total Social Security beneficiary population. The reasons for this arithmetic situation include the amount of time spent in the workforce, coupled with the reality that women have typically earned less than men during their working years. The situation is also made more noticeable by the fact that for unmarried women (including widows) age 65 and older, Social Security represents nearly half of their total income in retirement. In fact, for nearly half of unmarried women receiving Social Security benefits, that income represents 90% or more of their total income.

But all that’s changing, as suggested in an article posted on the Raymond James “Point of View” series. In fact, this article points out that “Women have become a major economic force, changing the modern workforce and making up 47% of all workers. Today, 70% of mothers with children under the age of 18 are working – up from 47% in 1975, says the Bureau of Labor Statistics.” Titled “Rise of the Female Breadwinner,” the article provides insights into the growing impact that women have on the U.S. economy. Read the article here…